February 27, A shares of home appliance plate changed steadily in the past year to a good trend, floating green .Among them, the boss of the word limit, Vantage shares fell more than 7% intraday, Haier, Gree, the United States decline of the Big Three In more than 4%, dragged down by the appliance sector, stock index fell more than 1%.
Analysts believe that the performance is not as expected and the market predicts two sessions this year, the country will launch the long-term mechanism for the property market, or become the main reason for the collective decline in the appliance sector.
To limit the owner of electrical appliances, for example, February 26 evening, the boss released a performance newsletter Express shows that in 2017 the company achieved operating income of 7000000000 yuan, an increase of 20.78%, while the white electricity industry last year, the average revenue growth rate of 41.48%; Net profit of 1.45 billion yuan, an increase of 20.18%, while the average net profit growth of the white industry was 29.91%.
GF Securities believes that the slowdown in real estate growth, rising raw material prices and poor performance of e-commerce channels, resulting in the owner of electrical income, profit growth slowed down.
As an industry closely related to real estate, the property cycle of the kitchen and plumbing segment is even more pronounced. In 2017, the major first- and second-tier cities and hot spots introduced strict restrictions on purchase and transmission to the kitchen appliance market, resulting in weaker demand and market growth In the meantime, due to the impact of rising raw material prices, Boss Appliances raised the price of online products in July 2017, resulting in a loss of market share and online revenue equal to 2016. In the meantime, due to the change of accounting method, Quarter of Jingdong 85 million income directly offset the cost, resulting in its fourth quarter revenue decreased 85 million.
From the sales structure, in 2017, the proportion of household electrical appliances smoke, stoves and consumer products accounted for 88% of total revenue while embedded products accounted for about 12% of total revenue. In terms of channels, offline revenue grew 15% An increase of about 15% (of which the online channel increased by 30% in the first half of the year and no increase after the second half of the increase in price), construction channels increased by 25-30% over the same period of last year; while in the subregion, the proportion of first- 65%, third-tier market share of revenue increased to 35%.
Into 2018, the first and second-tier real estate market regulation and control of pressure will continue to be transmitted, however, the third and fourth line market expansion and the growth of new categories, high-end product demand on the entire fundamentals formed a certain support.
In the release of the 2017 performance bulletin at the same time, Boss Electric also released the 2018 performance notice, is expected in 2018 1 quarter net profit growth or between 10-30%.
As the market changes, the products and channel layout of the boss are in the process of transformation.
In recent years, Boss Electric has stepped up its efforts to develop new products such as micro-bake and dishwashers, and the dishwashers market in China increased by about 140% in 2017 and the embedded micro-baked products increased by about 55%. In the year, the owner of electrical appliances expanded to build a new smart factory. It is estimated that the dishwasher products can be produced by themselves in 2018.
With the lack of growth momentum in the first and second tier cities, the boss appliance turned its attention to the more potential three or four line market, now in the county township level market has spread more than 400 famous electrical outlets .Sink sinks will be included Boss appliances, including all household appliances industry, the common choice.
It is reported that in December 2017, the boss appliances have once again adjusted the price of online products, the price basically restored in July before the level.
Glimpse and see all the pomp, the tightening of the property market regulation, the high sideways of raw materials, a second-line demand growth slowed premise, 2018 is doomed to not be a year of relaxation.